U.S. Recession Likely in 2024 Despite Current Economic Strength, Economists Warn

• The US is headed for a recession in mid-2024, according to Citi's chief economist • Economic data shows signs of decline despite strong surface-level numbers • Credit card delinquency rates are rising, indicating consumer weakness
• Retail sales data showed an unexpectedly large drop in activity • The "soft landing" scenario is no longer likely according to economists